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Gold - Usd Dollar Analysis

US Session Analysis for CFD Instruments 16/10/2020

Fundamental analysis

16 October, 2020

Gold steadied on Friday as the dollar eased but was still set for its first weekly loss in three as doubts over a U.S. stimulus agreement before next month's presidential election dented demand for the metal as an inflation hedge. The dollar index was 0.1% lower on the day but still set for a weekly gain, making it more expensive for holders of other currencies to buy gold. U.S. President Donald Trump said on Thursday he was willing to raise his offer of $1.8 trillion for a relief deal with Democrats in Congress, but the idea was shot down by Senate Majority Leader Mitch McConnell. Investors also kept an eye on Brexit trade negotiations, with Prime Minister Boris Johnson set to give Britain's response to European Union demands.

Technical analysis

Gold - Usd Dollar Analysis Technical analysis 16/10/2020
Time Frame: 1 hour

GOLD Support & Resistance Table - 16/10/2020

Support & Resistance Level Explanation
Resistance 2 1925.83 Daily R2
Resistance 1 1917.52 Daily R1
Support 1 1895.34 Daily S1
Support 2 1887.03 Daily S2

GOLD Indicator Table - 16/10/2020

Indicator Signal
SMA 20 Buy
SMA 50 Buy
SMA 100 Buy
MACD( 12;26;9) Sell
RSI (14) Buy
Stochastic ( 9;6;3) Buy

GOLD Indicator / Period Table - 16/10/2020

Indicator / Period Day - BuyWeek - BuyMonth - Buy
MACD( 12;26;9) Sell NeutralBuy
RSI (14) Buy BuyBuy
SMA 20 Buy BuyBuy

GOLD 16/10/2020 - Reference Price : 1906.43

Simple Moving AverageBuy (3)Sell (0)
Technical Indicators - OscillatorsBuy (2)Sell (1)
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GOLD Chart
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